Wall Street has never been a market for old men — but when the going gets tough, the graying veterans get the 3 a.m. call for help.
Today’s stock-market gurus were 25 years younger on Oct. 19, 1987, when they learned a painful lesson in the throes of a full-blown investor panic. The Dow Jones Industrial Average lost almost a quarter of its value that day — its worst single-session percentage drop ever. “Black Monday” conjured fears of that other October crash almost 60 years earlier, which ushered in the Great Depression.
In fact, the day after Black Monday was a terrific time to buy stocks.
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